2024

VeChain

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 <p>The price of Ripple (XRP) has been consolidating inside an ascending pattern, potentially setting the stage for further gains, according to some market analysts, even as overall investor sentiment has turned decidedly negative.</p> 
 <p>Noted crypto trader Ali posted a technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> on the social media platform X, highlighting an ascending parallel channel governing XRP’s price action dating back to June 2022. This price formation occurs when an asset trades between two upward-sloping and parallel trendlines, indicating steady buying pressure.</p> 
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    <p lang="en" dir="ltr">From this perspective, the governing pattern behind #XRP price action since June 2022 appears to be an ascending parallel channel. <br><br>If this pattern continues, $XRP could make its way toward the channel's middle or upper boundaries, which currently sit at $0.80 and $1.10,… pic.twitter.com/kCKHEFZQWe</p> 
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    </div> — Ali (@ali_charts) January 8, 2024
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 <p><strong>Also read: VeChain Is A Top Pick For 2024, Analyst Says VET Can Hit $1.14</strong></p> 
 <p>According to Ali’s <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, if Ripple XRP continues tracking within the confines of this channel, prices could push towards the mid-line at around $0.80 or even test the upper boundary, which currently sits near the key $1.10 level.&nbsp;</p> 
 <h2 class="wp-block-heading" id="h-is-the-1-10-level-for-the-coin-realistic-soon">Is the $1.10 level for the coin realistic soon?</h2> 
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 <p>The upbeat prognosis contrasts markedly with another tweet from Ali pointing to extremely bearish market sentiment for XRP based on crowd psychology metrics. According to the post, weighted sentiment is now at its lowest level of pessimism, going back to May of last year.</p> 
 <p>The depressed state of investor sentiment can indicate weak hands have finished selling out their positions while leaving underlying positive fundamentals unchanged. For XRP, that may include growing real-world usage of the affiliated Ripple payments network and positive developments in Ripple’s ongoing lawsuit with the Securities and Exchange Commission, according to legal experts.</p> 
 <p><strong>Also read: BNB Shows Signs of Recovery; Will Binance Coin Hit $350 in January?</strong></p> 
 <p>According to Changelly experts, Ripple XRP is likely to hit $1.10 in July 2025. However, it also depends on the overall market conditions and sentiment.&nbsp;</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ripple-could-hit-1-10-if-xrp-holds-this-pattern-analyst-tbt76087.html">https://thebittimes.com/ripple-could-hit-1-10-if-xrp-holds-this-pattern-analyst-tbt76087.html</a></p>

Ripple Could Hit $1.10 if XRP Holds This Pattern: Analyst

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